Ralph Lauren (NYSE:RL) Reaches New 12-Month High – Here’s Why

Ralph Lauren Corporation (NYSE:RL)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $374.00 and last traded at $371.1690, with a volume of 643356 shares changing hands. The stock had previously closed at $364.50.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Barclays upped their price target on Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Ralph Lauren in a research note on Wednesday, October 8th. UBS Group boosted their target price on Ralph Lauren from $421.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Telsey Advisory Group upped their target price on Ralph Lauren from $350.00 to $365.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $347.13.

Ralph Lauren Price Performance

The company has a market cap of $22.51 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. The stock has a fifty day moving average price of $325.43 and a 200-day moving average price of $300.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.34. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.88 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.Ralph Lauren’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 earnings per share. On average, equities analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were given a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 26th. Ralph Lauren’s dividend payout ratio is 26.98%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RL. Invesco Ltd. lifted its position in Ralph Lauren by 22.3% in the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock worth $333,958,000 after buying an additional 275,391 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Ralph Lauren by 55.7% during the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock worth $245,468,000 after acquiring an additional 414,275 shares in the last quarter. Geode Capital Management LLC boosted its position in Ralph Lauren by 1.6% during the second quarter. Geode Capital Management LLC now owns 1,014,880 shares of the textile maker’s stock valued at $277,818,000 after purchasing an additional 15,785 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ralph Lauren by 13.2% in the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock valued at $276,407,000 after purchasing an additional 117,494 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its stake in Ralph Lauren by 8,937.8% in the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after purchasing an additional 952,681 shares in the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.